fiduciary duties, page-3

At the time of the annual report it was announced that ADY was going to be in receipt of 2 loans of 5million each so they would have been able to pay the Hawkswood loan. Due to the non arrival of the above they would not have been solvent. The sale of RLL provided them with the cash so loans could be paid resolving the solvency problem.
The other choice was do nothing and have the receivers move in and pick at the bones.No doubt they would have done their homework and realised that the IO was too complicated to deal with and turned to the lithium it would have been a fire sale only looking for the 12million they wanted at least the way things have gone it has been sold with some benefit to the future of ADY
Thems the breaks